Crow Co. purchased some of the machinery of Hare, Inc., a bankrupt competitor, at a liquidation sale for a total cost of $15,000. Crow’s cost of moving and installing the machinery totaled $2,900. The following data are available: Item Hare’s Net Book Value on the Date of Sale List Price of Same Item If New Appraiser’s Estimate of Fair Value
Punch press $10,250 $19,000 $16,000
Lathe 8,250 9,000 5,000
Welder 2,730 5,000 3,050

Required:
Calculate the amount that should be recorded by Crow Co. as the cost of each piece of equipment.